Auxano Advisors LLC Increases Stake in Adobe Inc. (NASDAQ:ADBE)

Auxano Advisors LLC raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 3.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,283 shares of the software company’s stock after acquiring an additional 133 shares during the quarter. Auxano Advisors LLC’s holdings in Adobe were worth $1,905,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ADBE. Connable Office Inc. grew its stake in Adobe by 0.5% during the 3rd quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock valued at $1,932,000 after purchasing an additional 20 shares in the last quarter. 1ST Source Bank boosted its stake in shares of Adobe by 0.7% during the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock valued at $1,496,000 after buying an additional 20 shares during the last quarter. James J. Burns & Company LLC grew its position in shares of Adobe by 5.6% during the third quarter. James J. Burns & Company LLC now owns 415 shares of the software company’s stock worth $215,000 after buying an additional 22 shares in the last quarter. Holistic Financial Partners increased its stake in shares of Adobe by 6.0% in the third quarter. Holistic Financial Partners now owns 387 shares of the software company’s stock worth $200,000 after buying an additional 22 shares during the last quarter. Finally, Latitude Advisors LLC raised its holdings in Adobe by 4.3% in the third quarter. Latitude Advisors LLC now owns 555 shares of the software company’s stock valued at $287,000 after acquiring an additional 23 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 922 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the sale, the executive vice president now directly owns 22,153 shares in the company, valued at approximately $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David A. Ricks acquired 2,250 shares of Adobe stock in a transaction dated Tuesday, January 28th. The shares were acquired at an average price of $443.98 per share, with a total value of $998,955.00. Following the transaction, the director now owns 4,984 shares in the company, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 5,681 shares of company stock worth $2,525,126 over the last ninety days. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ADBE. Sanford C. Bernstein decreased their price objective on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Redburn Atlantic assumed coverage on shares of Adobe in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. Oppenheimer lowered their price objective on Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Barclays reduced their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Finally, TD Cowen downgraded Adobe from a “buy” rating to a “hold” rating and lowered their price target for the company from $625.00 to $550.00 in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $570.88.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $438.49 on Monday. The firm’s 50-day simple moving average is $439.71 and its 200 day simple moving average is $490.59. The stock has a market cap of $190.87 billion, a P/E ratio of 35.36, a P/E/G ratio of 2.15 and a beta of 1.31. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $587.75.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. Adobe’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.52 EPS. Equities analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

About Adobe

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.